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Stellantis ready to kill brands and fix U.S. problems, CEO Tavares says

  MILAN — Stellantis is taking steps to fix weak margins and high inventory at its U.S. operations and will not hesitate to axe underperforming brands in its sprawling portfolio, its chief executive Carlos Tavares said on Thursday. The warning for lossmaking brands is a turnaround for Tavares, who has maintained since Stellantis was created in 2021 from the merger of Italian-American automaker Fiat Chrysler and France's PSA that all of its 14 brands including Maserati, Fiat, Peugeot and Jeep have a future. "If they don't make money, we'll shut them down," Carlos Tavares told reporters after the world's No. 4 automaker delivered worse-than-expected first-half results, sending its shares down as much as 10%. "We cannot afford to have brands that do not make money." The automaker now also considers China's Leapmotor as its 15th brand, after it agreed to a broad cooperation with the group. Stellantis does not release figures for individual brands, except for Maserati which reported an 82 million euro adjusted operating loss in the first half. Some analysts say Maserati could possibly be a target for a sale by Stellantis, while other brands such as Lancia or DS might be at risk of being scrapped given their marginal contribution to the group's overall sales. Stellantis' Milan-listed shares were down as much as 12.5% on Thursday, hitting their lowest since August 2023. That brings the loss for the year so far to 22%, making them the worst performer among the major European automakers. Few automotive brands have been killed off since General Motors ditched the unprofitable Saturn and Pontiac during a U.S. government-led bankruptcy in the global financial crisis in 2008. Tavares is under pressure to revive flagging margins and sales and cut inventory in the United States as Stellantis bets on the launch of 20 new models this year which it hopes will boost profitability. Recent poor results from global carmakers have heightened worries about a weakening outlook for sales across major markets such as the U.S., whilst they also juggle an expensive transition to electric vehicles and growing competition from cheaper Chinese rivals. Japan's Nissan Motor saw first-quarter profit almost completely wiped out on Thursday and slashed its annual outlook, as deep discounting in the United States shredded its margins. Tavares said he would be working through the summer with his U.S. team on how to improve performance and cut inventory.

It's a V8 party! Lexus IS 500, Cadillac Escalade and more | Autoblog Podcast #667

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. It's all V8s all the time this week, starting with the Land Rover Defender V8 unveiling, Lexus IS 500 F Sport Performance debut and pricing announcement on the Jeep Wrangler 392. Next, they move on to what they've been driving. Spoiler alert: That means more V8 talk. Zac has been driving the Cadillac Escalade with the 6.2-liter V8 and BMW M550i with its 4.4-liter twin-turbo V8. Greg and Zac take a pause from the V8 theme by discussing their shared time in our long-term Acura TLX. From this, they segue into a "Spend My Money" feature about garage lifts to finish the show. Autoblog Podcast #667 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News 2021 Jeep Wrangler Rubicon 392 priced at nearly $75,000 2022 Land Rover Defender bulks up with a 518-hp V8 2022 Lexus IS 500 F Sport Performance brings back the V8 What we're driving BMW M550i Cadillac Escalade Acura TLX Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video:

FCA recalls over 200k Jeep Cherokees for windshield wiper static

Fiat Chrysler Automobiles is issuing a recall for over 200,000 versions of the 2014 Jeep Cherokee due to a problem with static buildup disabling the windshield wipers. FCA has identified 158,671 units in the United States. Another 18,366 vehicles are estimated to be affected in Canada, a further 3,582 in Mexico, and 26,049 outside of North America. The problem, according to the first statement below, results from static building up if the wipers are operated in dry conditions. The static could mess with the wipers' control module, rendering them disabled. To fix the problem, dealers will be instructed to install a ground strap to the module. In parallel, FCA is also offering incentives to the owners of certain trucks that were subject to recall but for which remedies were not immediately available. To encourage those owners to bring their older vehicles in for the required service, the automaker will disperse $100 prepaid cards for use at their discretion. The program is offered to owners of certain model year Jeep Grand Cherokee, Jeep Liberty, Chrysler Aspen, and Dodge Durango sport-utility vehicles, as well as certain Dodge Dakota and Ram trucks. Owners of the affected Grand Cherokees will have the option instead to take a $1,000 consideration toward the purchase of a new vehicle or for parts and service. The offers are only being extended under certain specific criteria, though. So if you think that could be you, you'll want to read through the conditions in the second announcement below. STATEMENT: CONTROL MODULE August 31, 2015 , Auburn Hills, Mich. - FCA US LLC is recalling an estimated 158,671 SUVs in the U.S. to help protect their control modules from static buildup that may potentially disable the vehicles' windshield wipers. An investigation by FCA US discovered static buildup may occur if the vehicles' windshield wipers are activated during dry conditions. Significant static buildup may affect a control module that powers the wipers. The Company is unaware of any related injuries or accidents. Affected are model-year 2014 Jeep Cherokee SUVs. An estimated 18,366 vehicles will be recalled in Canada, as will an estimated 3,582 in Mexico and 26,049 outside the NAFTA region. Dealers will install a ground strap to the control module to eliminate the potential for static buildup. Customers will be advised when they may schedule service, which will be performed at no cost.